Is A YouTube-Vevo Music Deal In The Works?
Although unconfirmed, Google will take a minority stake in the music video site Vevo, a company founded by Universal and Sony, reports The Guardian, which estimates the deal at about $50 million. It would support YouTube's move to become an entertainment hub, according to reports. Consumers will have an option to search for clips on YouTube. The deal will likely include a renewal of an agreement that covers the distribution of million of music clips and videos on YouTube.